California Resources Corp (NYSE:CRC) – Research analysts at Imperial Capital raised their Q1 2018 EPS estimates for California Resources in a research note issued on Tuesday, April 10th. Imperial Capital analyst J. Wangler now anticipates that the oil and gas producer will post earnings per share of ($1.09) for the quarter, up from their previous estimate of ($1.11). Imperial Capital currently has a “Outperform” rating and a $26.00 price objective on the stock. Imperial Capital also issued estimates for California Resources’ Q2 2018 earnings at ($0.96) EPS, Q3 2018 earnings at ($1.10) EPS, Q4 2018 earnings at ($1.10) EPS, FY2018 earnings at ($4.24) EPS and FY2019 earnings at ($2.14) EPS.

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Other equities research analysts have also issued research reports about the company. Societe Generale raised California Resources from a “hold” rating to a “buy” rating and boosted their price target for the stock from $17.91 to $25.00 in a research note on Friday, February 9th. Bank of America raised California Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research lowered California Resources from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. ValuEngine raised California Resources from a “sell” rating to a “hold” rating in a research note on Friday, April 6th. Finally, Goldman Sachs raised California Resources from a “sell” rating to a “neutral” rating and set a $27.50 price target on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $23.42.

Shares of NYSE:CRC opened at $22.26 on Thursday. The company has a market cap of $911.67, a PE ratio of -5.06 and a beta of 5.86. The company has a debt-to-equity ratio of -7.37, a quick ratio of 0.58 and a current ratio of 0.66. California Resources has a 12 month low of $6.47 and a 12 month high of $25.06.

California Resources (NYSE:CRC) last announced its quarterly earnings results on Monday, February 26th. The oil and gas producer reported ($0.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.21. The firm had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $540.57 million. California Resources’s revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned ($1.76) EPS.

In related news, Director Harry T. Mcmahon bought 35,530 shares of California Resources stock in a transaction that occurred on Thursday, March 1st. The shares were purchased at an average price of $14.18 per share, with a total value of $503,815.40. Following the purchase, the director now owns 48,773 shares in the company, valued at $691,601.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.31% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Barnett & Company Inc. lifted its stake in shares of California Resources by 306.9% during the 4th quarter. Barnett & Company Inc. now owns 5,701 shares of the oil and gas producer’s stock worth $111,000 after purchasing an additional 4,300 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of California Resources during the 3rd quarter worth $164,000. MANA Advisors LLC purchased a new position in shares of California Resources during the 4th quarter worth $220,000. Teacher Retirement System of Texas purchased a new position in shares of California Resources during the 4th quarter worth $244,000. Finally, Alps Advisors Inc. purchased a new position in shares of California Resources during the 4th quarter worth $248,000. 73.90% of the stock is currently owned by hedge funds and other institutional investors.

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California Resources Company Profile

California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe).